Czech Republic Industrial production July 2020

Czech Republic

Czech Republic: Decline in industrial output eases again in July

August 6, 2020

Industrial production declined 5.0% year-on-year in working-day adjusted terms in July, which followed June’s 10.5% slump. Accordingly, the trend pointed down, with the annual average variation of industrial production coming in at minus 9.3%, down from June's minus 7.9%.

July’s improvement was driven by a softer contraction in manufacturing. Meanwhile, mining and quarrying output fell at a sharper pace than in June, while growth in the electricity, gas, steam and air conditioning supply sector remained virtually unchanged.

On a monthly basis, industrial production expanded 5.7% in seasonally-adjusted terms in July, down from June’s 15.5% surge.

FocusEconomics Consensus Forecast panelists expect industrial output to plunge 11.7% in 2020, which is unchanged from last month’s forecast, and grow 7.1% in 2021.

Author: Massimo Bassetti, Senior Economist

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Czech Republic Industrial production Chart

Czech Republic Industry July 20 20

Note: Year-on-year and annual average variation of working-day adjusted industrial production index in %.
Source: Czech Statistics Office (CSO) and FocusEconomics calculations.

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